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Donald Trump is extending his push into crypto with a new plan to launch a Truth Social Bitcoin ETF, his latest move in an increasingly controversial expansion into digital assets. The proposed exchange-traded fund, filed by NYSE Arca on behalf of Yorkville America Digital, a financial partner of Trump Media & Technology Group, aims to track Bitcoin’s price performance. If approved, the Truth Social Bitcoin ETF would mark a major expansion of Trump’s growing crypto footprint, adding to a controversial digital asset portfolio that includes meme coins, NFTs, and a mining venture, many of which have drawn scrutiny over potential conflicts of interest. Truth Social Bitcoin ETF To Have Same Custodian As Crypto.com The filing did not disclose details about the proposed Truth Social Bitcoin ETF, with the management fee and ticker of the fund still unknown.  However, NYSE Arca’s filing did say the fund “seeks to reflect generally the performance of the pri...

Author: Meng Yan Original Link: https://mp.weixin.qq.com/s/Y8DuXVCPk22kNM1rs07HcA The current state of the Web3 industry and the crypto market can be summarized in one sentence: crypto prices are decent, but the industry is in a deep bear market. This situation has never been seen before in the history of this industry. Previously, prices and volume either both rose or fell together. The current scenario, where there is a severe divergence between volume and price, is the first of its kind in over a decade of the crypto market’s existence. Although the situation seems peculiar, the reason behind it is actually quite simple — lack of liquidity. Many people are asking, “Why do crypto prices and total market capitalization appear to be fine while the industry is so depressed?” Actually, this question is being asked the wrong way. Don’t forget, the U.S. federal funds rate is still at a historical high, and macro liquidity is in a tightening cycle. In this cycle, both the stock market and c...

Bitcoin (BTC) mounted a recovery, taking the rest of the market with it, despite sustained out flows from spot Bitcoin exchange-traded funds. The U.S. government made moves to sell $131 million in BTC confiscated from Silk Road. Meanwhile, Terraform Labs goes bankrupt . Spot Bitcoin ETFs record outflows This week featured massive negative net flows from the spot Bitcoin ETF market, largely due to substantial outflows from the Grayscale Bitcoin Trust (GBTC), as investors exited the project due to high fees. Particularly, on Jan. 24, the spot Bitcoin ETF market recorded the largest intraday outflow since it opened for trading. The products saw a cumulative negative netflow of $159 million that day, which marked their ninth day of trading. All other ETF products witnessed inflows on Jan. 24 besides the GBTC. However, these inflows were not substantial enough to overcome the outflows from the GBTC, which stood at a massive $429 million. On Jan. 25, the tenth day of trading, t...

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Crypto naysayers have had plenty of vindication over the last two years. The spectacle of Terra’s collapse in May 2022 was only superseded by the downfall of Sam Bankman-Fried and his empire six months later. His trial became one of the most hotly anticipated events of 2023. On the other hand, high-profile lawsuits against Coinbase and Binance by the SEC in June came as more of a surprise, as did the news that the latter had reached a $4.3 billion settlement with the Department of Justice in November.   You might also like: In 2023, the US government tried to kill crypto | Opinion And yet, despite all the setbacks, one struggles to find anything but the most bullish forecasts for the year ahead. Back in July, Standard Chartered predicted that mining profitability would result in a Bitcoin (BTC) price of $120,000 by the e...

Online broker Robinhood has added all 11 spot Bitcoin (BTC) ETFs approved by U.S. Securities and Exchange Commission (SEC). According to the company, all approved exchange-traded funds are now available for trading on the platform. Excited about the Bitcoin ETF news? All 11 are now available on Robinhood: https://t.co/hDdECIUz70 And when you transfer your brokerage account into Robinhood you get a 1% bonus on us: https://t.co/2mExIfm5T9. Terms apply. pic.twitter.com/bZ6TbAzNhN — Robinhood (@RobinhoodApp) January 12, 2024 As another benefit, the platform offers a 1% bonus when users transfer their brokerage account into Robinhood. Before this, the company’s CEO, Vlad Tenev, noted that Robinhood would list all 11 spot Bitcoin ETFs “as soon as possible.” This solution facilitates the integration of crypto assets into TradFi. Also, according to Tenev, spot Bitcoin ETFs provide new opportunities to create sophisticated risk management tools that benefit investors. Representati...

Options trading analysts pointed to Jan. 10 and beyond as the timeline for an SEC decision on spot Bitcoin ETFs amid bearish speculation that all applications may be rejected. Greekslive noted that a U.S. Securities and Exchange Commission (SEC) stand on spot Bitcoin (BTC) ETFs was unlikely to arrive before Jan. 7, citing stock price actions from crypto mining operations and digital asset-related companies in America.  Current month puts are now cheaper, and block trades are starting to see active put buying, with options market data suggesting that institutional investors are not very bullish on the ETF market. Greekslive on X The likelihood of the ETF's passage became less and less likely, and the market saw a stalemate. Weakness in crypto mining stocks, and the sell-off in several crypto-related U.S. stocks, also reinforced the market's skepticism. ATM option IV plummeted to 52% for the week and… pic.twitter.com/orjr1Wcwwf — Greeks.live (@GreeksLive) January 3, 2...

Cathie Wood’s investment fund Ark Invest has sold all its remaining assets of the Grayscale Bitcoin Trust (GBTC). Bloomberg analyst Eric Balchunas reported that half of the proceeds from the GBTC sale, amounting to a significant $100 million, were used to buy the BITO Bitcoin (BTC) futures ETF, launched by ProShares in October 2021. He suggested that the BITO purchase is likely being used as a liquidity bridge tool. Today ARK sold its entire remaining $GBTC position (it was ARKW's biggest holding only a month ago) and used half the money $100m-ish to buy $BITO, likely as liq transition tool to keep beta to btc while it legs into $ARKW or $ARKB. End of an era. h/t @DilksJay @funwithnumberz pic.twitter.com/J1i92qcmzo — Eric Balchunas (@EricBalchunas) December 28, 2023 However, the deal did not have a significant impact on GBTC shares. At the time of writing, according to the Nasdaq exchange, it is trading at $36.32. Source: Nasdaq The company liquidated tens ...

The SEC has delayed its decision on the ARK 21Shares Bitcoin ETF decision to early 2024. Also delayed is the Global X Bitcoin Trust application. Analysts expect the regulator to delay other proposals amid the likelihood of a US government shutdown. The Securities and Exchange Commission ( SEC ) has yet again delay ed a decision on the ARK 21Shares Bitcoin ETF application, pushing this to early 2024. The SEC also delay ed the Global X Bitcoin Trust application to November 21. News of the delays has elicited various reactions from the crypto industry, with many observing that the regulator will now likely delay all the other applications to next year. Bloomberg ETF analyst James Seyffart shared news of the SEC’s decision on X. UPDATE: Wow. The SEC just came out SUPER early and delay ed the @ARKInvest / @21Shares # Bitcoin ETF filing. This thing wasn't due for a decision until Nov 11. Also delaying the @GlobalXETFs application which was due Oct 7...